By Dinesh Aggarwal
As India moves ahead on its growth trajectory, with partial recovery from Covid-19 already happening, a strong impetus through the Union Budget-2021 is crucial. Sustained investment in Infrastructure by the government, constant effort to introduce FDI in manufacturing including electronic components and sub-assemblies, and conscious support for the real estate developers through priority lending; all of these will assist in stimulating the economy, which is still largely dependent on home demand. Also, commodity prices in the past 8 months have gone out of control and are unpredictable. It is expected that some strict measures are taken to diffuse such situations in the near future as it leads to dilution of business confidence.
We expect further impetus to clean energy generation, specifically for Solar, wherein there is a significant requirement for uniform and friendly policies for rooftop generation in factories, commercial spaces, and residences. On the other hand, Electric Vehicle adoption will get galvanised through supportive policies and funding tools. Thus, energy generation & savings will mainly remain a key area of focus. While the 100 smart cities project has taken a shape across India, it's time for the government to push more aggressively for modern city infrastructure. This will attract more talent and boost investment across all cities in India. A predictable change in import duties, including various surcharge and further reforms in labour laws, will be a progressive step to make Indian manufacturing more competitive and give the country its rightful position as a global design and manufacturing hub.
At Panasonic Life Solutions India, we are fully committed and aligned to the vision of "Aatmanirbhar Bharat"
(The author is Joint Managing Director, Panasonic Life Solutions India Pvt. Ltd.)